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Trusts

This category contains 219 posts

Hostility and dysfunction

Family trusts can raise complex considerations and perhaps none moreso than those relating to the changing of the guard as the intergenerational control aspect of family trusts is brought to bear. A contemporary consideration of these matters has been played out on the Triezenberg v Mason chronicles. The most recent iteration is the unsuccessful appeal … Continue reading

No result

Lendich v Codilla  relates to an attempt to claim a beneficial interest in property sold at an undervalue where there was an agreed element of gift. The case also raises the question as to standing of directors and shareholders of a company that has been removed from the register of companies. The issues raised by … Continue reading

Integrity of Trust Administration

Singh v Attorney General is an application under part 5 of the Trusts Act 2019 and pursuant to the High Court rules to defend the applicants’ removal as trustees of the Sikh Sangat NZ Trust (the Trust) and for a Beddoe Order. The applicants separately seek the removal of the Trust’s founding trustee and an … Continue reading

Directions under the Trusts Act

The decision in Re Tauranga Energy Consumer Trust may on first blush appear esoteric and outside the mainstream. However, the decision warrants careful reading as it is one of the few cases to date to consider default duties imposed by the Trusts Act 2019 in a practical construct. The case relates to a proposed restructure … Continue reading

Well intended

Grammarist states that “The road to hell is paved with good intentions” means that it is not enough to simply mean to do well, one must take action to do well. A good intention is meaningless unless it is followed by a good action.  It would be difficult to find a more comparable case as an example … Continue reading

Slow burn

The Estate of the Late J.D. Hanson relates to long-term asset and estate planning intended by the deceased to ensure that he died “neatly.” His commitment to this was such that a Neatly Board was established. However, as demonstrated in the Estate of the Late J.D. Hanson, the ultimate state of affairs was not at … Continue reading

Social vs commercial

The decision in Brkic v White considers whether Ms White has an interest in land that is “tantamount to ownership of the land”, such that the appellants can obtain a charging order that will enable the land to be sold to meet a debt owed by Ms White and her co-trustee of a separate trust. … Continue reading

Sensible outcome – inexplicable decisions

O’Dea v Rutten serves as reminder of the importance of respecting the legal framework of estates and trusts. For reasons that make no legal sense notwithstanding wills that provided for the residue of two estates to be distributed to trusts, the executors took the position that the trusts should be wound up and the trust … Continue reading

Beddoes and beyond

By way of background in Vincent Family Corporate Trust Limited (as trustee of the ET and P Vincent Trusts) as noted by Van Bohemen J (above and below): In Vincent Family Corporate Trustee the parties were urged to find resolution. When this was not possible the court was required to determine matters. Helpfully, Van Bohemen … Continue reading

Damp Squib

Being a trustee is increasingly more skittles than beer. “Beddoe orders” are an avenue for trustees to pursue or defend proceedings without facing personal liability. McCallum v McCallum concerns an appeal against partial Beddoe orders. At the opening of his novel Anna Karenina, the Russian novelist Tolstoy writes “All Happy families resemble one another, but … Continue reading

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